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25% Dividend Record Date: Logistic Stock Nears 1-Year High And It Belongs To Mahindra; Motilal Neutral -
1:10 Split, 26 Dividends: Tata's 26-Year-Old Retail Stock In Focus, Q4, Dividend Ahead; Buy For Target Rs 4200 -
1:5 Split Soon: Rs 2,300 Defence Stock To Split Into Five Shares, Rs 400 Cr Fundraising Too; Hits 52-Week High -
Penny Stock Bags Back-To-Back Orders Worth Rs 500 Mn, 110 Mn; Shares Hit Upper Circuit -
Marshall Wace Offloads Stakes in 21 Indian Companies for Rs 2,365 Crore -
Rishi Sunak Announces Generational Hike in UK Defence Spending -
Dr Reddy's Issues Recall for Six Drug Lots in US Over Subpotency Concerns -
Dr Reddy's Voluntarily Recalls Six Drug Lots in US Over Potency Concerns -
IRCON, RITES: 2 Multibagger Navratna Railway Stocks Potential To 17-24% Upside Ahead; Assigned BUY Rating -
AU Small Finance Bank Unveils New Products Including Rupay Credit Card
Rate cut hope sparks a rally on bourses
Among the major gainers in trade today were the rate sensitives which rose on hopes of a repo rate cut by the Reserve Bank of India.
In Europe shares were trading higher after a flattish close on Tuesday. The UK's FTSE, the German DAX and the French CAC were all trading higher. In Asia shares closed lower following weak overnight cues from the US.
The IIP data which came in at 0.1% for April triggered the rally in stocks which were trading lower until the data was released by 11.00 am.
Among the shares that gained in trade today were Sterlite Industries, State Bank of India and Larsen and Toubro. The rally on the bourses is likely to continue given that fresh long positions that are accumulating ahead of the RBI meet on June 18.
Hopes that the Greece election outcome would favour pro austerity parties also helped sentiments today. Greece elections are likely to be completed on June 17, 2012.
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